Investment Technology Group (ITG) Downgraded to Neutral at Wedbush

Investment Technology Group, Inc. has been downgraded today by the securities research analysts at investment firm Wedbush which lowered Investment Technology from a “outperform” rating to “neutral” noting that they foresee the potential for decreased consensus revisions for ITG throughout 2011.  Wedbush also lowered their performance outlook for Wedbush by adjusting their price target from $20 to $15 dollars.

ITG has set a new 52-week low today, reaching a low of $13 dollars.  Shares of ITG have been on the downturn for seven consecutive trading days.

Investment Technology Group is slated to release their next earnings report on July 28th, 2011 and the current consensus EPS estimate is expected to be 21 cents.  Investment Technology last earnings report was released on May 5th, 2011 and announced EPS of 23 cents with revenue totaling $150.1 million which was up 2.3 % year to year.  ITG is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company as well.

Investment Technology Group is an independent agency research broker that partners with asset managers globally to improve performance throughout the investment process.  The company has market capitalization of $558,139,560 and 41,252,000 shares outstanding.  ITG has a 52-week high of $19.87 with the low being $13 dollars.

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